BREAKING: IRS FAQs Answer Filing, Payment Postponement Questions

In a series of frequently asked questions (FAQs) on its website, the IRS has provided answers with respect to its recently-announced guidance that postpones until July 15, 2020, the filing of returns and payment of taxes that were initially due on April 15, 2020.

CAUTION! It is important not to assume that all your tax filing and payment obligations have been extended to July 15, 2020. For example:

  • Non-April 15 Due Dates: Any taxpayers who have filing or payment due dates other than April 15 have not been granted relief at this time. (FAQ 5)
  • Payroll and Excise Taxes: Under the Notice, normal filing, payment, and deposit due dates continue to apply to both payroll and excise taxes. (FAQ 6)
  • June 15, 2020 Estimates:  June 15, 2020 estimates have not been postponed. These second quarter 2020 estimated income tax payments are still due on June 15, 2020. (FAQ 16)

If you have questions on how the postponement of the April 15th due date applies to you, please don’t hesitate to contact us.

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